Did you know that from a tax perspective, having your trust as a beneficiary of your retirement accounts may not be a good idea? Discussing these issues with your estate planning attorney to determine what make sense to your situation is critical.
In short, keeping your beneficiary designations up-to-date and consistent with your overall estate planning objectives is important. A good “rule of thumb” is to review your designated beneficiaries and estate planning legal documents at least every five years, or after any major life event, like a marriage, divorce, the birth or adoption of a child, or the disability of a loved one.